A Law That Sets Forth a Maximum Time Period from the Happening

question 370

Multiple Choice

A law that sets forth a maximum time period from the happening of an event for a legal action to be properly filed in court is known as:

• A) The statute of frauds
• B) The statute of limitations
• C) The doctrine of estoppel
• D) Stare decisis
• E) None of the above

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Definitions:

Horizontal Merger

A merger between companies that are in direct competition with each other, operating in the same industry and at the same stage of production.

Price-fixing

An illegal agreement among competitors to fix prices, set production levels, or divide markets, to ensure mutual economic benefit.

Antitrust Law

Legislation designed to promote competition and regulate and prevent monopolies or other practices that restrain trade.

Legal Cartel Theory

A concept that explores the legality and economic implications of a group of firms controlling the market by regulating prices and output like a cartel.